GROW is our joint venture with agrifood accelerator Rocket Seeder, which we have established with the support of the Singapore government through its business agency Enterprise Singapore and the Economic Development Board.
At the launch event at the Australian High Commissioner’s residence in Singapore, several leading players told us that GROW is a much-needed presence that will help to foster innovation in a relatively nascent industry.
Ted Tan, deputy chief executive at Enterprise Singapore, who addressed guests, told us later: “We are happy that best-in-class agri-foodtech accelerators like GROW have chosen Singapore as home. GROW’s presence in Singapore will go a long way to cement Singapore as the destination of choice for agri-foodtech startups and investments.”
At AgFunder, we’re committed to helping grow foodtech and agtech ecosystems across the globe and that’s a big reason why we’ve partnered with the local government to create GROW. We’re also enhancing our coverage of the region on AFN with a new reporter joining us soon – hi Joe!
Under today's unique circumstances, AgFunder is re-opening Fund III for a limited time to enable investors to join our mission and invest alongside us as LPs in a second close. Learn more here.
Nicole Tee from the leading local venture capital firm Openspace Ventures, who counts Singapore state fund Temasek as an LP, told us that it’s still early days for agtech in the region and so creating an active ecosystem was important to drive further investment and create “credible players in the global markets.”
Bert Grobben, CEO at Budding Investors, agreed: “With the Launch of GROW in Singapore, the AgTech and FoodTech startup scene is getting much-needed support and focus. Bringing AgFunder and Rocket Seeder together in partnership with ESG and the EDB is really enhancing and solidifying the AgTech & FoodTech ecosystem. I’m excited with the influx of opportunities and get to learn more soon about the first and subsequent, cohorts. As a player in the Singapore and regional DeepTech scene, I look forward to participating in this building momentum.”
What Does GROW Offer?
Startups from across the globe, and across the agri-food supply chain, can take part in this 12-week intensive program that will take place in Singapore. Their participation will involve the following benefits:
- up-to US$120,000 in equity funding
- US$80,000 in-kind benefits
- world-class curriculum
- high-performance coaching
- a global network of mentors
- facilitated access to GROW’s partner network across the region for customer validation, prototype testing, tech trials with customers
- access to experts, test labs and deep-tech expertise in GROW research partners.
Applications have been coming in thick and fast since they opened earlier this week and Christine Pitt, Executive Director of GROW is excited about the wide variety of startups.
“There is a real excitement around the GROW program, and we hope to see more applications from bright entrepreneurs who are developing technologies right across the food system including applications for plant science and precision agriculture, automation, alternative proteins, aquaculture, novel food ingredients, animal health and welfare, IoT, supply chain and logistics, water and sustainability.”
Find out more and apply here before August 19 deadline.